L3Harris Technologies Inc $LHX Shares Sold by Baxter Bros Inc.

Baxter Bros Inc. cut its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 9.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,254 shares of the company’s stock after selling 1,544 shares during the quarter. Baxter Bros Inc.’s holdings in L3Harris Technologies were worth $4,185,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Bank of America Corp DE boosted its position in L3Harris Technologies by 3.1% during the second quarter. Bank of America Corp DE now owns 1,728,519 shares of the company’s stock worth $433,582,000 after acquiring an additional 52,776 shares during the last quarter. Capital Research Global Investors raised its stake in L3Harris Technologies by 23.3% during the third quarter. Capital Research Global Investors now owns 1,657,085 shares of the company’s stock worth $506,090,000 after purchasing an additional 312,846 shares during the period. AGF Management Ltd. raised its stake in L3Harris Technologies by 15.9% during the third quarter. AGF Management Ltd. now owns 1,500,887 shares of the company’s stock worth $458,386,000 after purchasing an additional 205,479 shares during the period. Dimensional Fund Advisors LP raised its stake in L3Harris Technologies by 2.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,440,599 shares of the company’s stock worth $439,920,000 after purchasing an additional 35,951 shares during the period. Finally, Victory Capital Management Inc. raised its stake in L3Harris Technologies by 1,053.9% during the third quarter. Victory Capital Management Inc. now owns 1,181,900 shares of the company’s stock worth $360,964,000 after purchasing an additional 1,079,474 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Jon Rambeau sold 5,528 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total value of $2,047,128.96. Following the sale, the insider directly owned 7,660 shares of the company’s stock, valued at approximately $2,836,651.20. The trade was a 41.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Melanie Rakita sold 751 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $278,110.32. Following the completion of the sale, the vice president directly owned 4,131 shares in the company, valued at $1,529,791.92. This trade represents a 15.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 19,025 shares of company stock valued at $6,824,370. Company insiders own 0.68% of the company’s stock.

Analysts Set New Price Targets

LHX has been the topic of a number of analyst reports. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Truist Financial set a $364.00 target price on shares of L3Harris Technologies in a research note on Wednesday, January 14th. Vertical Research reaffirmed a “buy” rating and set a $355.00 target price on shares of L3Harris Technologies in a research note on Tuesday, January 13th. Citigroup lifted their target price on shares of L3Harris Technologies from $389.00 to $418.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Finally, Susquehanna reaffirmed a “positive” rating on shares of L3Harris Technologies in a research note on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $349.55.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $353.35 on Friday. The company’s 50 day simple moving average is $355.54 and its 200-day simple moving average is $321.21. The company has a market capitalization of $66.00 billion, a price-to-earnings ratio of 41.42, a price-to-earnings-growth ratio of 1.80 and a beta of 0.62. L3Harris Technologies Inc has a 1 year low of $208.11 and a 1 year high of $379.23. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.19.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.10. The business had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.76 billion. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The business’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $3.47 EPS. As a group, equities research analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Friday, March 6th were paid a $1.25 dividend. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend was Friday, March 6th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.4%. L3Harris Technologies’s payout ratio is presently 58.62%.

L3Harris Technologies Company Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.